Bitcoin dropped $6,000 in one day

>Bitcoin dropped $6,000 in one day

The bubble is finally popping...

Who here didn't fall for the jewish scam?

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youtube.com/watch?v=WUk_p_JTm3Y
ft.com/content/3136ca5e-db78-11e7-a039-c64b1c09b482
bbc.com/news/technology-42275523
twitter.com/NSFWRedditImage

>not buying the dip

Stay poor, loser.

please user, be a good goy and buy my buttcoins high so I can get out before I lose everything user halp

Can anyone explain these gay swings and what is the reason behind them?

>inb4 they sell high and buy low

I've heard that you can't even sell it that fast.

I love how you guys think bitcoins are Jewish just because you can't understand them.

Yes, anti-Central bank money isn't the end of Jewish control or anything.

Bitcoin isn't going anywhere, but that level of growth was too fast. It's a correction and it'll be back right where it was soon enough.

I already sold at 16k. Ahahahahaha.

Did you reuse the December 2014 graphic?

I don't like destroying the world.

The price has to change when someone buys or sells. If more of one happens to the other, it will change more, which will temporarily encourage that trend as people try to exploit it.

REDDIT ON SUICIDE WATCH

I BOUGHT AT 17K 100X KILL ME NOW

Because there is nobody who is using the currency in any volume that is even close to what those who speculate on the currency are doing. It will forever be volatile because this literally the only thing that is driving the price up.

It has no stability because it's value is entirely derived from the big bitcoin market exchanges.

So fucking good.
Buying tomorrow (Monday) boys.

>now china controls everything about it
Correct me if I'm wrong but isn't that fucking wrong? I'm pretty sure miners just host transactions or some shit and they don't "control" anything.

>Bitcoin will use all energy on earth
Now where the fuck does this guy get that idea from?

bought at $1 in 2011.

I really got ripped off, lemme tell ya

If you want to make money... xrp/ripple will do that for you... longterm hold. Banks are buying it and will hold it all, after that boom.... bitcoin is a bubble people are getting screwed tomorrow.

This, I'm done trying to help you faggots. You're too dumb to have money.
See you in lambo land, nerds.

LTC and ETH are all you need.

Yeah, I have 2 regrets, not buying buttcoin way back when it was cheap and not buying Liquidmetal even though I knew it would pop (and it did). It returned to the pinks anyway so whatever.

Then who buys that many bitcoins at once knowing that the price will drop anyway?

Wait till it drops to $1300

Scam nothing. Its christmas time, on top of the tax plan passing senate that will ass blast college students. This drop is people selling to buy presents and get out of debt.

>Bitcoin isn't going anywhere, but that level of growth was too fast. It's a correction
This
>it'll be back right where it was soon enough
Maybe, depends on what you mean by soon enough.
I have no Bitcoins, I really should've got into it a few years back, but I was too cautious and too poorfag.

I BOUGHT THE DIP AT 14K

TELL ME IT'S GOING TO BE OKAY /biz/

AHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH

There are data centers run by mining companies that do the vast majority of both generating coins and verification of transcations, while the bitcoin network can be decentralized in theory it is highly centralized because clusters of computers can be grouped/owned by single entities that control much more of the network than random users.

>Now where the fuck does this guy get that idea from?

It is based on the current processor architecture available and is correct assuming the die shrink that is projected for semi-conductors is on schedule.

XRP seems like a viable upgrade to the current payment clearing system. Not just a money laundering vehicle.

>was hovering around 5k
>shot up to 16k for no reason
>is now dropping
>this asshole bought in at 14 instead of waiting for something more reasonable like 8-10
AHAHAHAHAHAHA

funny thing is that if you bought 100$ worth of bitcoin each day without even looking at the price you'd be a millionaire by now.

Its too late to buy those. You think the banks are backing a loser? Ripple adopted by amex. Just transferred 13billion in 3 seconds... cost 1 dollar. This is big news but you are all focused on bitcoin instead of the long-term winner.

dude it's billionaire bros fucking with you small chumps, making millions from retards who panic sell.

Don't buy ripple.
They can make as many as they want so the value is never going to go up. In fact, the creators of ripple WANT the value to stay low.

It's going to be fine. Hold onto your coin.

Every bitcoin is a vote against Jewish control of money.

Bitcoin has had massive drops before. This is nothing new. It will come back.

6k is what it'll inevitably drop down to.

thats the bear trap

youtube.com/watch?v=WUk_p_JTm3Y

It's never too late. Soon enough, it'll hit $100k. Then $1m. Years from now, today would be considered early.

Yes but in order to maximise saving you must use xrp. A small amount is destroyed each transaction and its all mined... 50 percent escrowed.

Bitcoin is a shitcoin though. At this point it essentially has its own central bank. Blocksize is being kept small so fees are high so the few whales that control it make more.

Blockchain is the future, bitcoin was the equivalent to dial-up.

in b4 bitcoin drops back to $300

>There are data centers run by mining companies that do the vast majority of both generating coins and verification of transcations, while the bitcoin network can be decentralized in theory it is highly centralized because clusters of computers can be grouped/owned by single entities that control much more of the network than random users.
Alright well so what? Bitcoin is experimental and still has flaws I'm sure. Why this dumbass is acting like it is hugely important is beyond me.

>It is based on the current processor architecture available and is correct assuming the die shrink that is projected for semi-conductors is on schedule.
Sure but it's not like the world supply of energy will just go to bitcoin. It would only happen if energy production increased enough to double our energy usage. Otherwise people will not waste money on energy for the small gains of bitcoin.

no it will eventually become 0

It's a correction to the mean of $9300. Between 16-40 hours from now.

Thats just plain wrong. You dont know what you are talking about.

*INHALES*

I never buy mined-out crypto. Once a crypto is mined out the miners move to something else

>it will perpetually rise forever somehow past the raw net worth of all nations

Cool gibberish, Jew.

Why will it hold value? It's useless. It's purpose was to be used as a currency, it's value is in that. No one uses it as a currency. It's stagnant. It's used to make dollars, people won't spend it because they think that what they buy with it today they could get two of tomorrow for the same amount of Bitcoin.

Watch this drop off like the .com fad back in the 90's.

Mining stabilizes the currency you dumb fuck

I'm considering buying some once this current correction hits a reasonable floor. I have a Bitcoin wallet now at least.

So, what if someone really rich could setup a quantum super computer to mine bitcoins million times faster? It would be a good thing like people who defends BTC always say?

You've no idea how it works. We are at around 80% of all the Bitcoin there will ever be.

Have fun with your worthless token in 10 years while other coins take over. You don't even have a counterpoint, you're just sure that everyone will continue to use dial-up forever because it's revolutionary.

Oh look a mean growth over time.

ft.com/content/3136ca5e-db78-11e7-a039-c64b1c09b482

Can't wait for this bubble to burst

If you honestly don't suspect it was jew made and used primarily by jews to launder and cash in on faggots while testing a universal one world currency...

if only... lowest it will probably drop is 10,000

Quantum computers actually allow you to start counterfeiting bitcoin. They destroy it's entire algorithm (there are Quantum safe algo's though)

Only if it's still worth trading with. If the marketcap is less than 10 million then it means not enough people are trading with it so it's fucking useless except for drug money.

Do you even know what a pullback is?

I lol'd at this.

90% of the volume is held by a few hundred people. Do you not think they manipulate the shit out of it? This is them cashing out their funds. They exchange it to real currencies in large volumes and tank the price of the coins because of what looks like a panic selloff. They trigger a real panic, which continues the price drop. They buy back again when the price is low.

The market on this shit is too easily manipulated when 90% is controlled by 100 people. Welcome to stock manipulation 2.0, a la cryptoland.

The idea is to keep it stable until distributed to banks. All this is available online... its 25 cent now...wont be for long... will rocket in 2018

>Look at me I know how bittorrent coins work I should work at NSA

Guaranteed they already are and have been for a while.

it's not the end yet, we need to wait a little bit longer
but it will burst sooner or later

1000 people, comrade.

>didn't deny being jewish.

well obviously ot cant function as a currency AND an investment at the same time.

So it is like federal reserve notes then? Albeit more volatile right now.

Quantum processors aren't currently used for that kind of processing.... Not yet, at least

And you think the same thing isn't done with actual $ ?

I couldn't even if I wanted to cause I'm a poorfag

>implying the anti-bitcoin shills aren't Jews trying to get us to sell

You would've had to already be a millionaire to be able to just blow $100 a day on BTC.

Y'know, just an extra $36,500 kicking around to throw at a digital currency since its inception. Good financial advice, user.

>doesn't deny being a faggot

How's your prolapsed anus going for you?

Now that i would like to see. Pulled when i saw the dip hoover 15000. Glad i did.

>Bitcoin will use all energy on earth by 2020
Does HRT cause brain rot?

>Brianna Wu...
Yea nah. She's only good at using her body to get shitty games reviewed.

see you tomorrow!

Didn't say it wasn't. You bitcoin rage queens are quick to get defensive. I was just explaining how it is easily manipulated, and thus the price fluctuates rapidly. Everything is manipulated. Just some people still don't realize it.

No, brain rot leads to HRT

...

If you're single, have an average job, and live with your parents, then it's doable

Let's say they affect the market by dumping big amounts on the exchange. But is it possible to cash out that fast? How long it takes to sell even 2 BTC, days weeks? It dropped 500$ since the thread was made wtf.

Basically. It's like almost all other currencies in countries that manipulate their money today, or the stock market.

lol, we talked about using that same meme to make the price drop. Are you Brianna Wu?

It's almost like someone stole 70-80 million USD of bitcoins and sold them all off at once.

bbc.com/news/technology-42275523

>Why will it hold value?

Because the system itself verified all transactions. This gives Bitcoin an innate value like gold.

Gold is a "trustless" currency. No one has to trust that gold has value for it to have value. It's just had value ever since humans first interacted with it.

The cash in your wallet, on the other hand, is fiat money. It has no value at all, except that it is backed up by the power of the central banks. It's value requires you to "trust" those authorities.

Bitcoin is quite simply digital gold. But with the convince of digital immediacy.

>It's useless.

Then so is gold.

> It's purpose was to be used as a currency, it's value is in that. No one uses it as a currency.

And they can't until the price stabilizes (and it will be very very high) and everyone is using it.

And the only way it can be stopped is by the (((government))) cracking down and basically shooting everyone who tries to use it.

>It's used to make dollars

Until such time as it replaces them.

If you want Jews to retain their control of money, that's fine. But what we're doing is nothing short destroying their power base. Get on board. Buy in while prices are low.

Sadly. Hopefully it paves the way for future currencies that can be better than this crap.

ye. there is no fucking way bitcoin can be a useful currency while also having so mucn variation. Its at 13 fucking grand right now. I pulled out when steam pulled out.

Bitcoin were bought using tethers. Tethers are supposed to be 1:1 USD, but in reality they are just made out of thin air, price sky rockets, normies buy in at inflated price, scammers cash out. In addition there are a lot of people buying with credit cards. That's insanity.

Since inception there has been 6 billion of real cash inflows into bitcoin. This will not cover the $200 billion market cap when people try to sell.

this is my favorite version of this meme

This is true. There are superior alternative coins out there that resolve bitcoin's fundamental flaws.
One is the contentious hard forking. Decred.org resolves that.

the marketcap for bitcoin is 287,000 million USD , selling 70-80 won't do shit.

>growth

It was literally spiking in (((((value))))) because of "scarcity" ie nobody mining them anymore.

It cant replace dollars. Bitcoin is unconstitutional.

>that non fitting line
>that horrible analysis
>using technical analysis in crypto

you're literally fucking retarded

Let this be a lesson to the teenager stock brokers. You never buy something rising in price that fast expecting to flip it. Either you already owned it or you don't touch it.

>"getting out" of the only real currency and into USD which literally only devalues over time.

HUH????????